CCS(SH:600180)2025-04-28 15:50Financial Performance - The company's operating revenue for 2024 was CNY 31,498,468,586.80, a decrease of 21.44% compared to CNY 40,094,200,824.93 in 2023[24]. - The net profit attributable to shareholders for 2024 was CNY 66,591,494.77, down 77.37% from CNY 294,273,568.92 in 2023[24]. - The net cash flow from operating activities was CNY -788,997,803.80, compared to CNY -576,454,917.04 in 2023[24]. - The basic earnings per share for 2024 were CNY 0.0618, a decrease of 77.72% from CNY 0.2774 in 2023[25]. - The company reported a decrease of 15.51% in net profit after deducting non-recurring gains and losses, amounting to CNY 157,833,339.45 in 2024[24]. - The weighted average return on equity for 2024 was 0.84%, a decrease of 2.99 percentage points from 3.83% in 2023[25]. - The company achieved total operating revenue of CNY 31.498 billion, with a net profit attributable to shareholders of CNY 670 million and a net profit of CNY 1.58 billion after deducting non-recurring gains and losses[34]. Assets and Liabilities - The total assets at the end of 2024 were CNY 31,224,202,378.22, an increase of 2.85% from CNY 30,358,949,027.57 in 2023[24]. - The net assets attributable to shareholders at the end of 2024 were CNY 7,888,493,976.49, a slight decrease of 0.15% from CNY 7,900,699,672.05 in 2023[24]. - The company reported a significant increase in trading financial assets, rising from 4,203,243.14 to 43,096,078.17, a growth of 925.31%[81]. - Accounts receivable decreased by 47.02%, from 543,975,030.35 to 288,176,189.65, indicating improved cash flow management[81]. - The company’s fixed assets surged by 8587.96%, increasing from 10,407,756.05 to 904,221,692.50, reflecting substantial investment in operational capacity[82]. Dividends and Profit Distribution - The company plans to distribute a cash dividend of CNY 0.25 per share, totaling CNY 26,951,201.60, which represents approximately 80.94% of the net profit attributable to shareholders for 2024[6]. - The cumulative cash dividend amount over the last three accounting years is 289,688,696.47 RMB, with an average net profit of 273,356,259.78 RMB, resulting in a cash dividend ratio of 105.97%[154]. - The company has implemented a continuous and stable profit distribution policy, ensuring reasonable returns to shareholders and compliance with regulatory requirements[148]. Business Operations and Strategy - The company shipped 43.1319 million tons of coal during the reporting period, with international coal business volume reaching 38.9268 million tons, representing a year-on-year increase of 17.65%[38]. - The company expanded its international coal business, particularly in Indonesia, where trading volume increased to 1.85 million tons, contributing significantly to stable profits[37]. - The company is focusing on enhancing its supply chain in the petrochemical sector, particularly in biodiesel, to strengthen resource integration and expand sales channels[39]. - The company aims to deepen its market presence in emerging economies while maintaining its competitive edge in the domestic coal market[37]. - The company actively seeks joint ventures with local governments and state-owned enterprises to enhance control over core resources and logistics nodes[61]. Research and Development - Research and development expenses totaled 6.09 million RMB, accounting for 0.02% of operating revenue, with 36.25% of R&D costs capitalized[77]. - The company is leveraging technology such as big data and AI to enhance its industrial internet platform, providing comprehensive services in the coal supply chain[57]. - New product development initiatives are underway, with an investment of 1,000 million allocated for R&D in the upcoming fiscal year[121]. Environmental and Social Responsibility - The company invested 624,900 CNY in environmental protection during the reporting period[161]. - The company has installed 132 solar-powered lamps, reducing carbon emissions by 22.765 tons[166][167]. - The company donated 1,000,000 CNY to educational initiatives, benefiting students in Henan Province[169]. Governance and Compliance - The company is committed to enhancing its governance structure, ensuring compliance with laws and regulations, and protecting shareholder rights[113][115]. - The company received regulatory warnings from the China Securities Regulatory Commission and Shanghai Stock Exchange in May 2024 due to issues related to cross-border RMB accounts[129]. - The company will continue to improve internal controls and ensure accurate information disclosure to prevent similar regulatory issues in the future[130]. Market Outlook - The global coal demand is projected to reach 8.77 billion tons in 2024, with a year-on-year growth of 1%[47]. - The company anticipates a 14.4% increase in coal imports to 54 million tons in 2024, setting a historical high[96]. - The overall market for agricultural products is expected to maintain steady growth, driven by government policies to boost consumption and investment[100]. Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 26,608[194]. - The largest shareholder, Zhengzhou Ruimaotong Supply Chain Co., Ltd., held 51.02% of shares, totaling 554,443,265 shares[196]. - The company has not reported any strategic investors or general corporations becoming top ten shareholders through new share placements[198].